Palos Verdes Real Estate Sales February 2019 For Palos Verdes Homes
Palos Verdes real estate sales February 2019 for Palos Verdes homes increased compared to January. 39 Palos Verdes houses sold in February compared to the 18 homes sold in January and decreased compared to the 41 homes that sold in February 2018. There were 59 Palos Verdes single family homes pending in February which increased from the 52 homes pending in January. The number of active Palos Verdes homes for sale in February (164) increased from the 147 homes for sale in January.
Average sales price for Palos Verdes homes sold in February decreased to $2,011,000 from $3,037,000 in January and increased from the $1,806,000 in February 2018. (One of the 18 sales in January was a $14,100,000 home which is part of the higher average sales price.) Price per square foot for Palos Verdes houses that sold/closed escrow in February decreased to $714 from January ($822). Average days on market in February decreased to 66 days from 70 days in January. Months of inventory (months it would take to sell existing inventory at the current rate of sale) decreased to 4.2 months in February for Palos Verdes homes for sale compared to 8.2 months in January. A “normal” market is considered 6 months of inventory and Palos Verdes real estate “months of inventory” is lower indicating the higher demand for Palos Verdes homes. Entire charts can be accessed by clicking here or on the “Statistics” tab above.
Currently, there are 161 single family Palos Verdes homes for sale. 90 Palos Verdes houses are in escrow (45 homes have pending sales and 45 homes are under contract). Additionally, 7 homes have sold/closed escrow in the first 7 days of March with an average sales price of $1,875,719.
To read last month’s report on Palos Verdes Real Estate sales, click here.
Chart courtesy of Trendgraphix, Inc.